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Q » Explain the concept of credit rating and why it matters.
01 Nov, 2025
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A » A credit rating is an assessment of an entity's ability to repay borrowed money, often represented as a score. It influences the interest rates offered on loans, affecting borrowing costs. High credit ratings indicate low risk to lenders, enabling favorable loan terms, while low ratings suggest higher risk, leading to higher interest rates. Thus, maintaining a good credit rating is crucial for financial flexibility and cost-effective borrowing.
01 Nov, 2025
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